Question

which of the following businesses would be taxed twice?
o the economics one - and - only diner and eatery
o austin & economics paper partnership
o the economics corporation
o the law firm of austin & economics, llp (limited liability partnership)

Explanation:

Corporations are subject to double - taxation. The business entity pays corporate income tax on its profits, and then shareholders pay personal income tax on dividends received. Partnerships (including LLPs) and sole - proprietorships (like a diner) are pass - through entities where income is taxed only at the owner level.

Answer:

B. The Economics Corporation